Mathes Company Inc. Sells 910 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Mathes Company Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the second quarter, Holdings Channel reports. The firm owned 53,337 shares of the information services provider’s stock after selling 910 shares during the period. Alphabet comprises 3.5% of Mathes Company Inc.’s holdings, making the stock its 5th largest position. Mathes Company Inc.’s holdings in Alphabet were worth $9,715,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Kendall Capital Management lifted its position in Alphabet by 5.6% during the 2nd quarter. Kendall Capital Management now owns 15,770 shares of the information services provider’s stock worth $2,873,000 after acquiring an additional 830 shares during the period. Miramar Capital LLC raised its stake in shares of Alphabet by 78.8% in the second quarter. Miramar Capital LLC now owns 43,854 shares of the information services provider’s stock worth $7,988,000 after purchasing an additional 19,332 shares during the last quarter. Sienna Gestion acquired a new stake in shares of Alphabet during the second quarter worth about $41,839,000. Carolinas Wealth Consulting LLC boosted its position in Alphabet by 0.5% in the second quarter. Carolinas Wealth Consulting LLC now owns 27,674 shares of the information services provider’s stock valued at $5,041,000 after buying an additional 135 shares during the last quarter. Finally, SkyOak Wealth LLC increased its holdings in Alphabet by 2.5% in the 2nd quarter. SkyOak Wealth LLC now owns 21,538 shares of the information services provider’s stock worth $3,923,000 after buying an additional 533 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the sale, the insider now owns 39,334 shares in the company, valued at $6,307,206.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 217,592 shares of company stock valued at $35,922,911. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $165.86 on Thursday. The company has a market cap of $2.05 trillion, a P/E ratio of 25.44, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The company’s 50-day moving average price is $162.08 and its 200-day moving average price is $167.01. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period last year, the company posted $1.44 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. UBS Group lifted their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Piper Sandler restated an “overweight” rating and set a $200.00 target price on shares of Alphabet in a research report on Monday. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. DA Davidson assumed coverage on Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price objective on shares of Alphabet in a report on Monday. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $201.14.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.